SAP Financial Accounting Flashcards

Terms Definitions
SAP ERP allows for complete and immediate integration between various SAP ERP components and SAP Financial Accounting (FI). What are examples of direct integration between the Materials Management (MM) component and FI?(3 answers)
- Invoice Verification - accounts payable- Purchasing - invoice verification- Goods issue to production order- GL account
Asset transactions include acquisitions and/or retirement of assets in an enterprise. SAP ERP Financial Accounting offers a simple tool for viweing such asset transactions as well as other asset information and activity. What allows you to view such asset
asset explorer
Financial information from transactions can be immediately integrated between SAP ERP FI and SAP ERP CO. Your colleagues have asked you to explain how this integration takes place during transactions. What is true in regards to the integration of financia
an additional account assignment with specification of the assignment
During the implementation process, you need to make a configuration decision regarding the operational chart of accounts in SAP ERP Financial Mgmt. What is true regarding the operational chart of accounts?(1 answer)
if cross company code controlling is required, the same COA must be used
As part of the implementation team, you need to identify the correct relationship and use of Business Areas in SAP ERP Financial Accounting. Which of the following statements about business areas is correct?(1 answer)
Business area is used for internal P&L and balance sheet
You are creating GL account master data in Financial Accounting. While createdin this GL account, what entries must always be assigned?(3 answers)
- account group- balance sheet or P&L account type- short text
Organizational levels play an imporatant role in Financial Accting. Your colleagues have asked you to explain the realtionship of teh client with various FI components. You explain the client is the highest organizational level in SAP ERP and...(1 answer)
must contain multiple charts of accounts
As part of the implementation team, you need to correctly identify relationships between various organizational levels in SAP ERP. What is true regarding organizational levels?(1 answer)
a plant must be allocated to a company code
You are performing configuration of an enterprise and need to understand the functions and proper assignment of various organizational levels in SAP ERP Financial Accounting. What is true?(2 answers)
- The business area can run across many company codes, i.e. all company codes can post in all business areas-Business areas are used to create interanl balance sheets and income statements
A client has asked you to explain the advanages of the new general ledger. What are advataged of the new GL?(3 answers)
- Real-time integration with CO- Real-time document splitting- Parallel accounting
Your colleagues have asked your assistance in defining the functions of the posting key in Fin. Acct. What does the posting key determine?(3 answers)
- account type to be posted- whether teh entry is a debit or credit- which fields are required in the entry
Between which functions in FI-MM modules does a direct relationship exist?(3 answers)
-Invoice verification - accounts payable- Purchasing - invoice verification- Goods issue to production order - GL account
The integration between FI and CO os realised using...(1 answer)
an additional account assignment with specification of the assignment object
True statements about Company Code?(2 answers)
- General Ledger administration is set at the level of the Company Code- Many Company Codes can belong to the same COntrolling Area
True statements about posting Assets in FI-Asset Accounting?(3 answers)
- directly to a clearing account- through MM-Purchasing- to a vendor
What GL account is responsible for purchasing?(1 answer)
GR/IR - goods receipt/invoice receipt
Each GL Account has a Chart of Account and Company Code section. (true/False)
Each GL Account is defined according to a Chart of Accounts. (True/False)
Inside the GL Account you can view teh balance for each vendor. (True/False)
False: have to be in Asset Explorer
True statements about Chart of Accounts(CATA - 3 answers)
- can be country specific- contains definition of all GL accounts- is assigned to a company code
True statements with respect to SAP XI(CATA - 3 answers)
- proxy generation and mapping tools- integration directory with content- enterprise and vendor potential for SAP
Financial statement versions support various reporting requirements.(True/False)
True statements with regard to teh Customer Master records?(CATA - 2 answers)
- contain reconciliation account information- have General, Company Code, and Sales Area Segments
True statements regarding teh asset explorer.(CATA - 3 answers)
- you can see the business transactions that have been posted- you can see planned depreciation- you can see posted depreciation by depreciation are
What controls the company code segment field?(1 answer)
account group
In the purchasing process, a FI document committing funds is created upon the creation of the purchase order. (True/False)
False: CO document, not FI
The Asset Explorer shows...(CATA - 3 answers)
- Planned Values- Posted Values- Parameters
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